08:00 AM EDT, 06/05/2025 (MT Newswires) -- MediPharm Labs ( MEDIF ) on Thursday said it has closed the sale of its Hope, British Columbia facility to Rubicon Organics ( ROMJF ) for $4.5 million in cash. The facility was acquired as part of its VIVO Cannabis acquisition in 2023. MediPharm ( MEDIF ) ceased all Hope Facility activities in 2024, consolidating key operations at its other facilities.

The company, a pharmaceutical company specialized in precision-based cannabinoids, also said it is expanding annual international cultivation capacity at its EU GMP-certified facility in Napanee, Ontario, by 30% in 2025.

Through its strategic divestiture of non-care assets, MediPharm ( MEDIF ) says it has reduced operating expenses by over $40 million on an annualized basis in the past several years.